Profits and turnover up at Ledingham Chalmers
Ledingham Chalmers has seen an increase in turnover and profits over the last financial year.
Turnover for the year ending March 2019 was just over £11.6 million, compared with around £10.6m the year before; while profits were up from £3.2m to £3.47m.
Group turnover, including for subsidiary Golden Square Wealth Management (GSWM), was also up: £12.1m compared with £11.6m. Profits were slightly down — £3.5m compared with £3.6m.
The firm said this reflects investment in the growing GSWM team over the period to support future, sustainable growth.
Brian Hay, the firm’s chief executive officer, said: “We exceeded our budget, which is great news, and, as we’ve said before, our focus is very much on the long haul: ensuring we continue to have the right people in place to carry on delivering what we know is a valuable service for clients, with the SME sector a particular area of focus.
“Looking ahead, we’ve revised the 2019/2020 budget, mainly to reflect changes following the Simpson & Marwick Aberdeen deal, which saw the team join Ledingham Chalmers in November. And, with a quarter to go, we’re on track to deliver that five per cent increase on last year’s revenue for the law firm.”
Chairman and partner Jennifer Young said: “As well as the considerable legal expertise you’d expect, we have a reputation for being approachable, responsive and good to deal with, and the benefit of that approach comes through in these figures, as well as in the external recognition our firm receives. We’re consistently recognised in the Chambers and Partners and Legal 500 directories based on feedback from clients and peers.”
Mrs Young added: “We continue to be firmly established within the leading pack of firms of a similar size — and bigger — and are consistently commended for the quality of our people, as well as our sound, pragmatic guidance.
“Yes, the marketplace is constantly shifting, but for firms like us, with the appetite to adapt and respond to trends, and to align effectively with client needs, there are always opportunities.”